I had a number of collections (10) on my reports. So far I paid one (which I will GW), and PFD'd three of them. I pulled my score this morning, and two of the PFD'd collections have been removed. However, I only got a seven point bump on my score. One of the collections was my newest one, and one was one of the older ones. I guess that I was expecting more of a bump. Am I correct in assuming that the increase in score will be more dramatic when I get a collection removed when I am down to the last few?
Which makes sense. My big question is this. Out of the eight collections remaining on my report, I am pretty sure I can PFD six of them. The other two will probably end up as paid, with me attempting to GW. One DoFD from 2009, the other 2012. Assuming I PFD six and only two remain as paid, what kind of increase can I expect from where I'm at now? Substantial? Microscopic? Any guesses would be welcome. Thanks
Hmm. That's unfortunate. My most recent one is Paid to the OC with West Asset Management reporting it on my CRs, and the other one is still unpaid to Central Financial Control (which I will pay, but who I have heard is notorious for not doing PFD). I think I can PFD the rest. You really think that removing six collections with only two remaining as paid will only bump me up another 15-20 points?
I was hoping to app for the Marriott Rewards card in four months once I've had my Freedom card for six months. I know some people have been successful recently with scores in the mid sixes. Maybe I can explain the two paids at that point on manual recon? I am also assuming that my score will go up a little in the meantime from other things like AAoA increasing and some inqs aging.
@earlyKY wrote:I have been successfully in getting 4 collections deleted and still have 3 remaining. Unforntunately, I didn't see a big score jump with any of them. I think the biggest I got as a 15 pt jump in score, and that was after I PFD a collection that was under 6 months old.
Yeah, that's part of what I am worried about. However, I'm still gonna pay them one way or another. I am just hoping that explaining things during manual recon, coupled with my positive relationship with Chase, will get me the card I am looking for. Obviously I won't apply if there is no chance at all, but still.
I would hope that getting rid of SIX collections out of eight would bump me up another 40 points total. Is that a pipe dream? Reasonable?
Awesome. Two of the six that would be removed are from 2012, so those should definitely help. I'll have two paids left after all is said and done, one from 2009 and one from 2012. I'll GW both, but not holding my breath.
Also, do amounts factor into it at all? I think I read that FICO doesn't consider collections under $100? If the amount is higher, does your score improve more when it's removed? Or is it solely based on age / how recent?